CFA Student Scholarship- myth or reality?

So I'm targeting some mba colleges to get into in the upcoming academic year on the basis of their affiliation with CFA institute. But as I'm going through the brochure for the same, it's written that the concerned university/institution will decide whether the scholarship will be given or not and cfa institute will only approve it.

So what does this mean? On what basis will this scholarship be awarded to the eligible candidates? If anyone has any idea or has taken benefit of such scholarship before, please do reach out!